Lazard US Equity Concentrated Portfolio
RLUEX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 30 Rockefeller Plaza New York NY United States of America 10112
- IPO Date
- Nov 15, 2016
- CIK
- 0000874964
- Website
- lazardassetmanagement.com
- Similar Companies
- Business
- Lazard US Equity Concentrated Portfolio (RLUEX) is an open-end mutual fund managed by Lazard Asset Management that seeks long-term capital appreciation by investing primarily in equity securities, principally common stocks, of U.S. companies of any market capitalization. The portfolio maintains a concentrated strategy, typically holding 15 to 35 companies with market capitalizations generally greater than $350 million, and under normal circumstances invests at least 80% of its assets in such U.S. equity securities; it aims to outperform broad-based indices including the S&P 500 Index, Russell 1000 Index, and Russell 3000 Index. Key sectors include technology, financial services, and consumer cyclical, with top holdings such as Amazon.com Inc., Marvell Technology Inc., and Charles Schwab Corp.; the fund is classified in the large blend Morningstar category with a net expense ratio of 0.76% to 0.81% and a minimum initial investment of $1 million. Launched on November 15, 2016, the fund is domiciled in the United States and available for sale within the country, with total net assets of approximately $47 million to $85 million as of recent data and a portfolio turnover rate of 81%. Recent management changes include the abrupt departure of longtime lead manager Chris Blake in April 2024, followed by his promotion Jay Levy's exit as comanager on September 30, 2024; Sean Gallagher assumed the lead manager role upon Blake's departure, with Martin Flood continuing as comanager, supported by Lazard's over 20-member central analyst team. These transitions occurred amid underperformance, with institutional shares ranking in the bottom decile of large-blend peers over three-, five-, and 10-year periods through July 2024, and a significant asset decline from nearly $2 billion in December 2020 to around $80 million by June 2024 for the mutual fund share class, though the related separately managed account strategy retains roughly $2 billion in assets.